Focus on Stability, Not Aggressive Growth in 2026 — Analyst Advises Government

Financial analyst Toma Amihere has urged government to resist the temptation to pursue rapid economic expansion in 2026, insisting that Ghana’s current recovery remains too delicate for an aggressive growth push.

His caution follows the presentation of the 2026 Budget Statement to Parliament by Finance Minister Dr Cassiel Ato Forson, themed “Resetting for Growth, Jobs, and Economic Transformation.” The budget outlines the administration’s intention to consolidate recent macroeconomic gains while preparing the ground for job creation and broader structural reforms.

Reacting to the budget in a media interview, Amihere said the priority for the coming year must be to deepen the stability achieved so far.

“I think that for 2026 government should focus on stabilising the stability, so to say — making the stability a fervency — then for the next two years, using it as a foundation for growth,” he stated.

Amihere observed that the policy direction signalled in the 2026 budget mirrors the stabilisation-first posture seen in the 2025 fiscal plan, describing the approach as prudent under current economic conditions.

“Just like the 2025 budget, I believe this government is focusing first on stability before growth. I am seeing it as positive because I believe that is what the government should do,” he said.

Ghana’s macroeconomic rebound in 2025, he noted, surpassed the expectations of many analysts. He highlighted the sharp and faster-than-anticipated decline in inflation as a key indicator of improved economic management.

“If you had asked me even in March that inflation could go to a single digit this year I would have said it is a lie. All the analysis from different indications for 2025 — I said the 11.9 percent target cannot be met — but it has been exceeded,” he admitted.

Despite these gains, Amihere stressed that the recovery is still in its infancy and should be approached with caution.

“I see it as a good thing but I still think it is rather fragile, and I am sure most people will agree with me that the economy is too fragile,” he cautioned.

His comments add to the growing discourse on how government should balance stabilisation with growth ambitions as the country navigates its post-crisis economic path.